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European stock markets and oil prices dropped on Monday as trade war fears re-ignited after a spat between U.S.’ and China’s top officials.
European shares were down 2.5%, while U.S. stock futures fell 1%.
MSCI’s broadest index of Asia-Pacific shares outside Japan lost 2.5%.
U.S. Secretary of State Mike Pompeo said that there was enough evidence that the new coronavirus strain originated from a laboratory in Wuhan.
An editorial in China’s Global Times called on the United States to present evidence for its claims.
Companies under the pan-European STOXX 600 are expected to decline by 40% in their second-quarter earnings.
Recent economic data showed a heavily affected global economy due to lockdowns.
U.S. manufacturing declined to an 11-year low as over 30 million Americans filed claims for unemployment.
Oil prices fell amid worries of a persisting oversupply despite easing lockdowns.
U.S. West Texas Intermediate crude futures dropped to $18.66 per barrel. Brent crude futures lost 1.7%, at $26 per barrel.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
Asian stocks advanced on the prospect of ultra-easy monetary policy as the U.S. Federal Reserve kept interest rates near zero. Fed deemed it necessary to salvage the ailing economy, dragging the dollar down to a two-year low. The target range ...
On Wednesday, European stocks rose slightly after mixed earnings reports. However, the new wave of the coronavirus outbreak kept investors cautious while they also wait for the U.S. Federal Reserve’s announcement. The Stoxx Europe 600 ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
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